|Sell Range||1352 – 1313|
|Target*||1205 – 1190|
|Duration||15 – 20 Trading Sessions|
|Downside Potential||11 – 12%|
|CMP#||Idea||Sell Range||Target*||StopLoss**||Duration||Downside Potential|
|1317.9||SELL||1352 – 1313||1205 – 1190||1367||15 – 20 Trading Sessions||11 – 12%|
# CMP on 18th Jan, 2019
* Use trailing StopLoss to accumulate profit.
** Adjust StopLoss on daily closing basis.
Larsen & Toubro Ltd, a large cap company, incorporated in 1946, having business in construction, engineering, manufacturing, trading, Finance and Technology services worldwide. Headquartered in Mumbai, this infrastructure company has integrated capabilities to deliver an entire value chain, from design to delivering a project. In Q3FY19 the company’s net income was improved by 21%YOY to Rs.96,073 crore and Net Profit increased by 30% YOY to Rs.5,486 crore.
|52 Week High||1800.60|
|52 Week Low||730.70|
TECHNICAL OBSERVATIONS (WEEKLY)
- Price made near all time high on February 01, 2018. Since then the trend is going downwards.
- Price is moving in a falling channel trend. Every time the price is near the upper Resistance, price start falling.
- In November 2018 there is a false breakout with ever decreasing volume.
- 14th January 2019: Price falls below the resistance line. A fresh short will be a good idea from here.
TECHNICAL OBSERVATIONS (DAILY)
- Candlestick pattern is showing bearishness.
- ADX has turned bearish on daily charts.